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Bristol-Myers To Pay Largest Partnership Fee In Biotech History For Cancer Drug

Bristol-Myers Squibb says it will pay a record $1.85 billion to Nektar Therapeutics, a small biotech startup, for rights to its experimental cancer drug, codenamed NKTR-214. Nektar will book 65% of global profits on the drug, should it reach the market, with Bristol getting the other 35%.

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